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Production Functions Estimates for Soviet Industry and Some Implications

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  • Oldrich Kyn

    (Boston University)

  • Hans-Juergen Wagener

    (Europa Universitat Viadrina, Frankfurt Oder)

  • Joerg Hocke

    (----)

Abstract

This study presents estimation of production functions for the Soviet industry from the 1951—1970 data. Different specifications and estimation procedures were tried. The results diverged on a wide range and this may have serious implications. The paper shows possible effects of different parameter estimates on the growth potential of the Soviet industry as represented by a steady state growth rate according to a very simple neo-classical model. This does not necessarily imply that such a model is truly representative of the Soviet-type economy, however, the growth potential can very well serve to demonstrate the difficulties stemming from the errors in estimated parameters.

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Bibliographic Info

Paper provided by EconWPA in its series Econometrics with number 0511003.

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Date of creation: 03 Nov 2005
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Handle: RePEc:wpa:wuwpem:0511003

Note: Type of Document - doc
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Web page: http://128.118.178.162

Related research

Keywords: Production Function; Cobb-Douglas; CES; Growth Model;

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